The military are not happy campers, especially when it comes to the quality of housing on base, or so says the military ombudsman in a new report.
The annual report has raised a lot of questions, and a lot of interest from eagle-eyed investors who want to target this market.
“It is a small pool of potential renters as most military stay on site for financial reasons, but it’s a very lucrative market,” says Brian Matthey from The Mortgage Professionals in Kingston, home to one of the country's military bases. “A lot of high ranking officials prefer to rent with their families and are looking to rent for a period of around two to three years and want high-quality housing options.”
Adam Doyle from Royal Le Page in Wainwright, Alberta, tells CREW that the local real estate market comes alive in spring in the military town.
“There are very few rentals in the town so most buy before posting season. We have a lot of younger people relocating from Kingston camp looking for entry level housing while higher ranking officials often prefer executive homes, for example,” says Doyle.
Matthey says that similar oil and gas cities, investors should do “a lot of due diligence” before specifically targeting the military market. “As most live-in accommodation is less expensive than general market rates, the property has to be very good and well-priced to attract military personnel. It’s a good sector to try and target so should be considered.”
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